Investment by NRIs/OCBs in Non-Convertible Debentures – Redemption thereof

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Full Text of the Document

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....Dealers in Foreign Exchange Madam/Sirs, Investment by NRIs/OCBs in Non-Convertible Debentures - Redemption thereof Authorised Dealers are aware that Indian companies were being permitted under FERA,1973 ( since repealed) to issue non-convertible debentures (NCDs) to NRIs/OCBs . While granting such permission to the Indian companies to issue NCDs, they were advised to seek prior permission....